IHS: Reversing oil export ban will boost U.S. economy

|By:, SA News Editor

The energy research group IHS has released a report stating the benefits of U.S. oil exports. Advantages include an added domestic investment of $750 billion, fuel prices lowered by 8 cents a gallon, and an added 394,000 jobs.

Congress enacted a ban on exports after price shocks from the 1973 Arab oil embargo.

With the possibility of Russia cutting its natural gas and crude oil supply to Europe, there is a greater focus on the potential of U.S. energy.

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